Residential Capital LLC, known as ResCap, a subsidiary of Ally Financial Inc. and the fifth largest mortgage originator and servicer in the country, filed for Chapter 11 protection along with 50 of its subsidiaries listing assets of $15.7 billion Only Bank of America, JPMorgan Chase, Wells Fargo Bank and CitiMortgage service more mortgage loans than ResCap, which services more than 2.4 million ..
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Mortgage Lender ResCap Files Ch.11; To Sell All Assets
Posted by mortgage 6 days ago (Editorial)
Mortgage Lender Residential Finance Corp. Explains Benefits of HARP 2.0
Posted by mortgage 6 days ago (Editorial)
When June Snow first looked into refinancing her interest-only mortgage, she was told it would be impossible because the value for her three-bedroom, two-bath ranch style home was not in the necessary range.
Slow but steady grows the Florida economy
Posted by mortgage 6 days ago (Editorial)
The recession and the subprime mortgage crisis hit Florida with hurricane force, leaving a wake of home foreclosures and more than 10 percent unemployment at its peak. Four years later, the state still works hard to build back its economic strength.
Fifth lender joins government mortgage scheme
Posted by mortgage 8 days ago (Editorial)
A fifth bank has joined the government?s mortgage indemnity programme for buyers of new-build homes.
GM interested in buying foreign operations of lender Ally Financial
Posted by mortgage 8 days ago (Editorial)
Ally Financial Inc.'s troubled mortgage unit Residential Capital LLC filed for Chapter 11 bankruptcy early today as the Detroit-based auto lender said it may sell its international businesses.
Ally not looking to sell U.S. auto lending: CEO
Posted by mortgage 8 days ago (Editorial)
(Reuters) - Ally Financial is "absolutely not" looking to sell its core U.S. auto lending business as it seeks ways to pay back $12 billion it owes to U.S. taxpayers after a government-funded bailout during the financial crisis, the company's CEO said Tuesday. Ally, the former in-house financing arm for General Motors Co , on Monday announced plans to sell some international operati
Former subprime lender ResCap files for Chapter 11
Posted by mortgage 8 days ago (Editorial)
Residential Capital L.L.C., which was a big subprime mortgage lender and still employs 1,385 in Fort Washington, filed for bankruptcy protection Monday in New York.
Former subprime lender ResCap files for Ch. 11
Posted by mortgage 8 days ago (Editorial)
Residential Capital L.L.C., which was a big subprime mortgage lender and still employs 1,385 in Fort Washington, filed for bankruptcy protection in New York on Monday.
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